Uncle Sam Finds 14,000 Facilities to Sell

The White House said Wednesday it wants to raise as much as $15 billion for selling off unused buildings, from warehouses and supply sheds to outdated Federal Aviation Administration towers.

The federal government has already identified 14,000 buildings and structures to sell.

The sales, which could begin in a few months, are subject to congressional approval and come at a time when the real estate market is still on shaky grounds. The White House mentioned the initiative in President Barack Obama’s fiscal 2012 budget, and said it will put a list of all available structures up on the Internet. It also plans to conduct online auctions for some of the properties.

“The federal government is far and away the largest property owner in the country–1.2 million individual properties,” said Jeffrey Zients, deputy director for management and chief performance officer of the White House’s Office of Management and Budget. He said operating the federal government’s unneeded buildings cost about $20 billion a year.

Mr. Zients said the government shouldn’t delay the sales. “I don’t think we’re market timers, and we need to get rid of this real estate, stop paying for unnecessary upkeep and bring the money back to taxpayers,” he said.

The independent board will consist of private and public sector leaders and will set priorities for the sales. Congress would then vote on whether to accept the board’s recommendations on an up-and-down vote. Congress would also need to approve the creation of the board.

Mr. Zients said the board would face plenty of hurdles: “Red tape, financial barriers, political interests–that’s why the government owns thousands of properties it doesn’t need, and is wasting taxpayer dollars.”

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